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Don`t keep cash at home, invest it, women advised

20th December 2012
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Women have been challenged to invest their money into stocks or different local firms instead of keeping it at home.

About 99 percent of Tanzanians are keeping money in their homes rather than investing it due to fear and lack of enough education.

The observation was made recently in Dar es Salaam by Emilian Busara, a management expert during a workshop which was convened by a group of influential women.

He said many women have a lot of money which is out of formal circulation, advising them to cultivate the culture of investing in stocks, noting that there were a lot of company shares which lacked buyers.

He said even low income women can buy shares as they are sold at low prices, adding that investing in companies helps shareholders to get loans easily.

He assured women to own shares in the stock exchange is considered by the government as an investment, affording shareholders relief when paying taxes.

Busara called on Tanzanian women to make sure that they own shares in mining companies so as to benefit directly from mineral activities around them.

He mentioned some of the challenges causing poor participation in the stock market as limited education on the importance of shares, and peoples’ culture in investing a lot of money in perishable assets.

He advised women to continue investing in profit making companies trading on the Dar es Salaam Stock Exchange since the value of their shares increased by the day.

For her part, Muhimbili National Hospital (MNH) Social Welfare Officer, Beatrice Mungula said most women held back from buying shares fearing inflation would erode their capital.

Mungula said many women lack education on borrowing as they sign contracts with financial institutions without adequate knowledge hence ending up getting their properties confiscated or auctioned.

She emphasized the need to invest in profit making businesses and not wait for the support from the government.

SOURCE: THE GUARDIAN